madam president i welcome the agreement on the supervisory architecture
i know that my colleagues have not found it easy to reach that agreement
it has been a delicate balancing act between protecting markets from cross-border risks and yet also maintaining national governments responsibilities
the commissioner has described this quite rightly as just the first brick
i look forward to working with the commission to ensure that future bricks do not overtopple that delicate balance
fundamentally it is no good for member states to agree standards internationally and then fail to implement them domestically
i hope that this will ensure that we all abide by our international rules
during the debate many of my colleagues said that it was important that the head of the esrb was the head of the ecb
we promised to listen to him when he warned us of risks
yesterday he warned the council of the risk of a financial transaction tax and told us that this could be a disaster for europe
let us make sure that we as politicians hold on to our promise and actually listen to the person we say we will listen to
